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Amount, Principal and Interest

A sum when re...

Question

A sum when reckoned at 6% per annum simple interest amounts to ₹ 4130 in 3 years find the sum

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Solution

When solving this question,

Consider the sum reckoned be ₹ P.

Amount = ₹ 4130

Rate% = 6% p.a.

Time, t = 3 years

Amount = PRT/100 + P

4130 = (P * 6 * 3)/100 + P

4130 = 18 P/100 + P

4130 = 118 P/100

P = 4130*100/118

P = ₹ 3500

The required sum = P = ₹ 3500

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